Gazprom and Bahrain’s Nogaholding sign Memorandum of Understanding
RELEASE
Release
Viktor Zubkov, Chairman of the Gazprom Board of Directors, and Mohammed bin Khalifa bin Ahmed Al Khalifa, Minister of Oil of the Kingdom of Bahrain, Chairman of the Nogaholding Board of Directors, signed in Moscow today a Memorandum of Understanding to cooperate in the area of liquefied natural gas.
Mohammed bin Khalifa bin Ahmed Al Khalifa and Viktor Zubkov signing Memorandum of Understanding. Photo by RIAN
The signing ceremony was attended by Vladimir Putin, President of the Russian Federation, and Hamad bin Isa Al Khalifa, King of Bahrain.
Background
Bahrain's proven gas reserves amount to 172 billion cubic meters. 21.3 billion cubic meters of gas produced in 2015 was fully consumed in the domestic market. Gas is produced from the Awali field. There are no gas imports or exports.
Nogaholding (Oil and Gas Holding Company) was established in 2007 with the purpose of owning and managing all state assets in the hydrocarbon sector of the Kingdom of Bahrain.